Trapital
What's Next After Streaming? Troy Carter - Trapital Summit
Nov 27, 2024
Troy Carter, the Co-founder and CEO of Venice Music, shares insights from his experience managing superstar artists. He discusses the industry's shift towards independence and the necessity of creating more than just audio experiences. With the current seller's market for music distributors, he explores potential next revenue drivers for musicians beyond streaming. The conversation also touches on the rise of premium models, TikTok's challenges, and the transformative impact of technology on music's future.
29:17
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Quick takeaways
- The music industry is evolving towards increased independence, empowering artists through entrepreneurial ventures rather than reliance on major labels.
- Future monetization will hinge on innovative strategies like premium streaming tiers that balance access and exclusivity for fans.
Deep dives
The Future of Music Industry Dynamics
The current music industry landscape is reaching a maturity level where streaming has dominated for over a decade, but there are signs of impending change. Historical patterns show that technological platforms, like MTV and iTunes, have shifted the balance of power, suggesting that a transformation is due. This change presents an opportunity for the industry to regain control over its future, with a focus on entrepreneurial initiatives rather than reliance on major labels. Those who adapt to these shifts will likely emerge as winners, while those who cling to outdated practices may fall behind.
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